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AGA Medical's sale to St. Jude might be the fastest exit ever

October 18, 2010 by MedCity News

AGA Medical Holdings Inc.'s $1.3 billion sale to St. Jude Medical Inc., less than a year after AGAM's IPO, might go down as the fastest exit in Wall Street history.

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When St. Jude Medical Inc. (NYSE:STJ) completes its $1.3 billion acquisition of AGA Medical Holdings Inc. (NSDQ:AGAM) at the end of the year, it just might be the quickest exit in Wall Street history.

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St. Jude to pay $1.3 billion for AGA Medical

October 18, 2010 by MassDevice staff

St. Jude Medical Inc. agreed to drop $1.3 billion on AGA Medical Holdings Inc. and its portfolio of transcatheter heart repair devices.

STJ, AGAM logos

St. Jude Medical Inc. (NYSE:STJ) will offer to pay $1.3 billion for AGA Medical Holdings Inc. (NSDQ:AGAM) and its line of heart repair devices.

St. Jude's $20.80-per-share bid for its Twin Cities peer is a roughly 41 percent premium over AGA Medical's Oct. 15 closing price of $14.71. Shares were trading at $20.75 in pre-market activity after news of the deal broke.

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St. Jude Medical moves to block Boston Scientific suit

October 14, 2010 by MassDevice staff

St. Jude Medical Inc. moves to block a lawsuit filed by Boston Scientific Corp. over an allegedly poached sales rep.

BSX, STJ logos

Boston Scientific Corp. (NYSE:BSX) and St. Jude Medical Inc. (NYSE:STJ) are going to war on two fronts over a sales rep Boston Scientific accused St. Jude of poaching.

The case began when St. Jude and Blaire Kiland sued Natick, Mass.-based BSX in the U.S. District Court for Northern California Sept. 13, alleging that it broke California rules in luring Kiland away from his then-employer Medtronic Inc. (NYSE:MDT) in North Dakota.

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St. Jude reimbursement expert seeks Minnesota House seat

October 7, 2010 by MedCity News

Marion Greene, a reimbursement expert for St. Jude Medical Inc. and "a liberal with an MBA," is seeking a seat in the Minnesota House of Representatives.

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Marion Greene has worked at both the Center for Science in the Public Interest (CSPI) and General Mills, a food manufacturer that often is the target of CSPI’s wrath. She’s a non-Quaker that once toiled for a Quaker lobbying group. And she’s a medical device veteran who argues for a single-payer healthcare system.

“A liberal with an MBA!” reads her campaign flier for Minnesota state representative.

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Mass. court rejects St. Jude's trade secret claims against Volcano

October 6, 2010 by MassDevice staff

Volcano Corp. wins the latest round of an ongoing legal battle with St. Jude Medical Inc.-owned LightLab Imaging Inc. as the Superior Court of Massachusetts rules against LightLabs' trade secret claims.

STJ, VOLV logos

Volcano Corp. (NSDQ:VOLC) declared victory in the latest round of a legal battle with St Jude Medical Inc. (NYSE:STJ) subsidiary LightLab Imaging Inc.

The Superior Court of Massachusetts rejected LightLab's claims for protection of five alleged trade secrets relating to laser technologies and denied all of the coronary imaging firm's requests for permanent injunctions, according to Volcano.

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St. Jude wins Japanese approval for another pain management neurostimulator

September 30, 2010 by MassDevice staff

St. Jude Medical Inc. wins approval from the Japanese Ministry of Health, Labor and Welfare for its Eon Mini spinal cord stimulation system.

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St. Jude Medical Inc. (NYSE:STJ) landed approval for its Eon Mini spinal cord stimulation system from the Japanese Ministry of Health, Labor and Welfare.

The St. Paul, Minn.-based medical device maker touts the implantable device as the world's smallest and longest-lasting rechargeable neurostimulation system for chronic pain management.

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Boston Scientific, St. Jude Medical detail clinical studies

September 28, 2010 by MassDevice staff

Boston Scientific releases eight-year study results on implantable cardioverter defibrillators; St. Jude Medical Inc. commences a clinical trial for its transcatheter aortic valve.

BSX, STJ logos

Boston Scientific Corp. (NYSE:BSX) and St. Jude Medical Inc. (NYSE:STJ) released details on a pair of clinical trials, one for implantable cardiac defibrillators and another for transcatheter aortic valves.

The scientists conducting the BSX-funded study, who published their work in the journal Circulation, found that one life is saved for every eight patients who receive an ICD and that there is a 34 percent "relative reduction in the risk of death" for ICD patients at eight years.

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